Checking account A charges a monthly service fee of $12 and a wire transfer fee of $10.50, while checking account B charges a monthly service fee of $21 and a wire transfer fee of $8.50. Which check account is the better deal if four wire transfers are made per month?
Accepted Solution
A:
Answer:checking account A is the better deal.Step-by-step explanation:A charges a monthly service fee = $12.00Wire transfer fee = $10.50B charges a monthly service fee = $21.00Wire transfer fee = $8.50If the requirement is four wire transfer per month A charges for 4 wires = 10.50 × 4 = $42.00and adding monthly service fees = 42.00 + 12.00 = $54.00B charges for 4 wires = 8.50 × 4 = $34.00and adding monthly service fees = 34.00 + 21.00 = $55.00Therefore A charges less than B, so checking account A is the better deal.